Wave wins on more features overall (5 vs 1, 13 tied). Below is the full feature-by-feature breakdown.
| Feature | PayPal Invoicing | Wave |
|---|---|---|
| Free plan |
✓ Yes
Free to create — fees on paid invoices
|
✓ Yes
|
| Entry paid plan |
✓ Yes
No subscription, only per-transaction fees
|
✓ Yes
Pro Plan US$16/mo (about AU$25)
|
| Download PDF without signup |
✗ No
PayPal account required
|
✗ No
Requires signup to generate invoices
|
| Feature | PayPal Invoicing | Wave |
|---|---|---|
| Unlimited invoices |
✓ Yes
|
✓ Yes
|
| Custom logo & branding |
— Limited
Logo only — minimal template control
|
✓ Yes
|
| Recurring invoices |
✓ Yes
|
✓ Yes
|
| Email invoices to clients |
✓ Yes
|
✓ Yes
|
| Multi-currency |
✓ Yes
|
✓ Yes
|
| Client management |
— Limited
|
✓ Yes
|
| Feature | PayPal Invoicing | Wave |
|---|---|---|
| ATO-compliant GST invoices |
— Limited
Configurable but not auto-formatted
|
— Limited
No automatic ATO Tax Invoice wording
|
| ABN field built in |
✗ No
Manual workaround via custom fields
|
✗ No
Manual workaround needed
|
| Australian-focused support |
— Limited
|
✗ No
No AU-based support
|
| Feature | PayPal Invoicing | Wave |
|---|---|---|
| Bank reconciliation |
✗ No
|
— Limited
AU bank feeds are limited
|
| Expense tracking |
✗ No
|
✓ Yes
|
| Payroll |
✗ No
|
✗ No
US/Canada only
|
| Inventory tracking |
✗ No
|
✗ No
|
| Feature | PayPal Invoicing | Wave |
|---|---|---|
| Stripe payments |
✗ No
PayPal locks you to its own processor
|
— Limited
Wave Payments only — no direct Stripe integration
|
| Mobile app |
✓ Yes
|
✓ Yes
|
| Feature | PayPal Invoicing | Wave |
|---|---|---|
| Setup time |
— Limited
PayPal Business account required
|
— Limited
~10 min signup + business setup
|
Neither tool fits your invoicing-only workflow? Try InvoiceSonic — free for unlimited ATO-compliant tax invoices, no signup required.
Create a free invoice now →PayPal Invoicing starts at Free (2.6% + AU$0.30 per paid invoice); Wave starts at Free (Pro Plan US$16/mo). PayPal Invoicing offers free invoicing — fees apply to payments. Wave offers free forever.
For ATO-compliant GST: PayPal Invoicing = limited, Wave = limited. For native ABN field: PayPal Invoicing = no, Wave = no. If you operate in Australia and either tool falls short here, InvoiceSonic handles both natively — and it's free.
Most freelancers want fast invoicing without paying for full accounting. Between these two, Wave wins more categories overall. But if you're a freelancer who just wants ATO-compliant tax invoices for free, InvoiceSonic is purpose-built for that workflow.
Both PayPal Invoicing and Wave let you export client lists and invoice history (usually as CSV). Migration takes an afternoon for most small businesses. If you're considering switching anyway, it might be worth evaluating InvoiceSonic as a free alternative for invoicing while keeping your accountant's tool of choice for bookkeeping.
Both tools are accounting-first platforms; their invoicing modules are a subset of what they do. If invoicing is your only need, a free dedicated invoice generator like InvoiceSonic is usually faster, cheaper, and more focused — without paying for bookkeeping, payroll, or inventory features you won't use.
Yes — InvoiceSonic is free for unlimited Australian-compliant invoices with no signup required for PDF download. You can run it alongside or instead of paid accounting platforms.